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Factories Aren't the Future.

Authors :
Eichenbaum, Martin
Source :
Wall Street Journal - Online Edition. 10/3/2024, pN.PAG-N.PAG. 1p.
Publication Year :
2024

Abstract

The decline of manufacturing in the United States has not been the catastrophe that politicians often portray it to be. While manufacturing jobs have decreased significantly over the years, the country's overall prosperity has continued to rise. This is due to technological advancements that have increased labor productivity in manufacturing and allowed workers to transition to other industries where their skills are needed. Industries such as financial services, medicine, biotech, and higher education have experienced significant growth and have contributed to the country's economic success. While there are real political consequences to ignoring the human cost of change, the solution lies in providing support and retraining for affected workers, equipping children with the necessary skills for a changing world, and removing unnecessary barriers to growth in emerging sectors of the economy. [Extracted from the article]

Details

Language :
English
Database :
Academic Search Index
Journal :
Wall Street Journal - Online Edition
Publication Type :
News
Accession number :
180042175